Summary
- Major U.S. bank U.S. Bancorp said it will resume its Bitcoin custody service after 3 years.
- It said it plans to expand its client base to institutional investment managers, registered funds and private funds, and Bitcoin ETFs.
- NYDIG will act as sub-custodian to hold the actual assets, and U.S. Bancorp will serve as the intermediary, it said.
Major U.S. bank U.S. Bancorp is resuming its Bitcoin (BTC) custody service, which had been suspended for more than 3 years.
According to Reuters on the 3rd (local time), U.S. Bancorp said it will restart the custody service launched in 2021 and plans to expand its client base to institutional investment managers, registered funds and private funds, as well as Bitcoin exchange-traded funds (ETFs).
Under the service, virtual asset (cryptocurrency) firm NYDIG will act as sub-custodian to hold the actual assets, and U.S. Bancorp will serve as the intermediary communicating directly with clients.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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